ZARU is being developed through a partnership involving Luno, Sanlam, EasyEquities, Lesaka and BlockTower. (Image generated using ChatGPT) South Africa’s rand is gaining a new route into global digital asset markets, with ZAR Universal (ZARU), a rand-denominated stablecoin, going live on Circle’s Arc blockchain and launching as a founding currency pair on Circle StableFX. ZARU…
Tether remains the dominant stablecoin in South Africa. (Image created by GenAI) Authorised financial services provider BlockTower’s rand-backed stablecoin ZARU has been listed on Luno Global, in what it says is the first institutional-grade rand stablecoin on a regulated crypto exchange. The listing gives the rand an on-chain secondary market on Luno’s exchange. ZARU, which…
A partnership between four South African financial institutions has led to the launch of an “institutional-grade” stablecoin pegged to the rand. Dubbed ZAR Universal, or ZARU, the stablecoin will made available to both retail consumers and institutional investors through the alliance between cryptocurrency platform Luno, low-cost trading platform EasyEquities, fintech Lesaka Technologies and Sanlam Specialist…
